Zcash (ZEC) has inflicted heavy losses on bearish traders following another leg higher. Roughly $54.3 million worth of leveraged ZEC positions were liquidated over the past 24 hours, with $48.91 million coming from short positions, representing approximately 90% of the total. ZEC recently traded around $1,220, up roughly 19% over 24 hours, with its market capitalization climbing above $20 billion, making it the ninth-biggest cryptocurrency in the world. Grayscale’s Zcash ETF, trading under the ZCSH ticker on NYSE Arca since August 25, has already attracted at least $34.4 million in net inflows and its assets have climbed above $400 million.
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